Norilsk Nickel Considers Two Percent Buy Back

Reuters reported Norilsk Nickel (GMKN:MM,LSE:MNOD) is considering buying back a 2 percent stake from the market on advice from the largest shareholder, Interros.

As quoted in the market news:

The move could buoy Norilsk share prices that have plunged 26 percent in the last 12 months, tracing a global sell-off in base metals, including nickel. The company’s market capitalization, which stood at $31 billion at the market close on Monday, was also hit by a lingering conflict among its main shareholders.

Click here to read the full Reuters report.